WTI now @50.60 headed for $41 - $34

[Top Oil Trader + 469]

toook me about 8 month to learn how to drive. remember while i was in the tunnel with my teacher i hit the wheel of a truck, almost killed my teacher.there are certain things i can learn very fast, like math and stuff, then certain things like carpentry or painting im the worst in. Remmeber once offered my friend to help him paint his apartmetn for free, i think after 10 min of seeing how i painted he kicked me out of the apartment. So catching on how to trade crude was quick, maybe a litle quicker than expected, i really didnt think i coudl figure it out day trading, but then puff, was a piece of cake. so i stayed with it. and every week i learn one more important thing about how not to get fried and get my skin flayed trading crude. would say trading crude is a ruthless game, and if you dont catch on, or if you are not always in tune, one wrong move and its over.

[Top Oil Trader + 469]

i am always quiestioning how many pos to trade. everyday i say 1, then i trade 6 or 7, right now 7 shorts. cant control myself.

however today, i finally realized that the correct amount is 2, first one yo take a beginning and then add then 2nd when its absolutely 100%, in past i would short 1 then it dropped 30 i would short 2 and it went up 30 tick i would lose 300 so i had to figure out how to avoid those losses. takes time, but its doable.

[Top Oil Trader + 469]

you see oil is a scary thing to trade.. very .. but once u understand it, and how it lieks to move. its like having a phython for a pet and putting it aournd your neck, it will never kill you, you see since u know it, he knows you. but for a stranger you put that snake round your throat that could be it. same with trading crude. so like i said if it cant hold 5280 its all all over

[Top Oil Trader + 469]

and if it does rev e rse at 5280 i ahve no problem letting go of the shorts... but i will not be long thats for sure... will stay and watch or maybe just go for a drive..

[Top Oil Trader + 469]

the scary part is if they cant hold 5280 what i mean by its all over, we could see 51 today... so people who thought we hit a bottom and are butying the bottom are getting killied here..its  a shame, but here is a lesson in emotional trading, and only once they blow up their acct, will they realize the mistake they did, right now its hope we reached a bottom and that crude can re verse here at leastl at 5280 which i doubt.

[Top Oil Trader + 469]

whats a few minutes? by the way was their any news today that caused crude to crash from 54.5

[Top Oil Trader + 469]

so it doesnt look good. i mean it dropped 140 ticks already but here is key too, and this means crude is done for today, it has no hope

[Top Oil Trader + 469]

only time crude goes down in a straight line is when something really bad happened, i am sitl not sure what, since people here are holding their tongues. but in any cases, i never want to blow up, and indeed i could one day lose a lot. so therefore tomorro i will trade 2 contract max no matter what.

[GeoPolitics + 14]

22 minutes ago, Top Oil Trader said:

toook me about 8 month to learn how to drive. remember while i was in the tunnel with my teacher i hit the wheel of a truck, almost killed my teacher.there are certain things i can learn very fast, like math and stuff, then certain things like carpentry or painting im the worst in. Remmeber once offered my friend to help him paint his apartmetn for free, i think after 10 min of seeing how i painted he kicked me out of the apartment. So catching on how to trade crude was quick, maybe a litle quicker than expected, i really didnt think i coudl figure it out day trading, but then puff, was a piece of cake. so i stayed with it. and every week i learn one more important thing about how not to get fried and get my skin flayed trading crude. would say trading crude is a ruthless game, and if you dont catch on, or if you are not always in tune, one wrong move and its over.

So does this mean the snipping tool becomes to difficult to understand when the trade goes against you, but becomes clear and easy when things are going well?

Just saying since you seemed to have gotten the hang of it earlier 🙄

 

[Top Oil Trader + 469]

well it reversed for now. sometime things jsut stop going down, for now

Edited December 4, 2018 by Top Oil Trader

[MLT 0]

JJ

I have been following your thread with great interest. Your call this morning, (long @ 53.40) then (short @ 54.40) just outstanding.

I thought that I understood support and resistance, but your numbers were nowhere on my charts. I use a 4 hr chart to determine S/R, and trade a 30 min chart, reference a 10 min chart for entry and exit. What am I missing?

Please continue the thread, I have much to learn.

[Top Oil Trader + 469]

so what i love about my system is that though crude reversed 60 ticks my system said lay low dont and indeed now back to square one

[Top Oil Trader + 469]

i have besides it tellin me when to enter it also tells when not to enter even if it goes up. now its trying to break up again, but i think it may be time t short yet one more time, last time for the day. there are good fakes like we had earlier and there are bad fakes like we have now. unfortunately the english are gone, the us traders are at lunch so right now no stops to go for, so this upswing is pathetic, and will soon crash.

Now on earlier trade that went up it was a clear long, but when i know its a fake even a good one, i just cant go long, i have principles, that i cant make money of a fake, but for most i think they thought 53 was the bottom, and are probably still stuck with those long. Playing crude indeed is a cruel game, and you either figure out what are fakes what are real trades, or take every trade and get whacked. People who trade breakouts about 99% dont know which are the real breakouts which are fake, so they trade it all, and eventually lose it all.

[GeoPolitics + 14]

2 minutes ago, Top Oil Trader said:

Playing crude indeed is a cruel game, and you either figure out what are fakes what are real trades, or take every trade and get whacked. People who trade breakouts about 99% dont know which are the real breakouts which are fake, so they trade it all, and eventually lose it all.

Indeed this is true! I've noticed you've been struggling these past few days and seem really indecisive with your trades.

Just shows that nobody has their finger on the pulse 100% of the time, but at least the market provides us with a free slice of humble pie from time to time.

Hope things start working in your favor dude! Chin up though, I'm sure you will start winning your trades again eventually 

[Top Oil Trader + 469]

geo dont worry about me. im not struggling at all. i just dont want one big trade to go against me, and it could so if i play 1-2 contrtacts its lots of money too,, but im more relaxed in the trades, and then trading is more fun, less money but more fun. but geo thanks for your concern.

[catch22 + 244]

6 hours ago, GeoPolitics said:

So does this mean the snipping tool becomes to difficult to understand when the trade goes against you, but becomes clear and easy when things are going well?

Just saying since you seemed to have gotten the hang of it earlier 🙄

 

Posting a screen shot takes all of 1 second... hit the prtscn key from your platform, then hit ctrl + V in the forum- thats all there is to it.

The fact JJ doesnt speaks VOLUMES about his touted successes and he wont post the full screen shot which shows in big fat letters- DEMO account.

Why all the noise JJ? I mean, What is your motivation for all the pretensious commentary here? Stil Making calls after the market already moves i see... and still avoiding the fact you called shorts heading for $40 but now taking longs over $54... your commentary and reasoning makes a spinning top look stationary!

[aakash kapoor + 16]

Let's wait for the API, I'm guessing huge Crude build.

Edited December 5, 2018 by aakash kapoor

[cbrasher1 + 272]

18 hours ago, Top Oil Trader said:

whats a few minutes? by the way was their any news today that caused crude to crash from 54.5

In the U.S., the American Petroleum Institute was said to report nationwide crude stockpiles increased 5.36 million barrels last week. If confirmed by government data on Thursday, it will mark an 11th consecutive week of gains. Inventories for gasoline and diesel were also said to have risen.

[White_Dragon + 4]

Hi guys, I was thinking of the idea to open a telegram/whatapp exclusively oil trading group in which we can share the last second news more rapidly or our position in the trading online. 

This could help everyone to be always on the topic and don't lose trend, good/close moment or last second news and leave the forum for the long exhausting explanation. 

Who is on board?

[Oilfuturestrader + 10]

TOP OIL TRADER I CAN TELL YOU ARE A RETAIL TRADER! DON'T GIVE ADVISE PLEASE.

[GeoPolitics + 14]

56 minutes ago, Oilfuturestrader said:

TOP OIL TRADER I CAN TELL YOU ARE A RETAIL TRADER! DON'T GIVE ADVISE PLEASE.

He's human like the rest of us and as a human feels the need to compensate to impress people (idk why, maybe low self esteem?), but @Top Oil Trader it's okay to be wrong from time to time. I think people here would take you more seriously if you didn't make contradicting statements all the time (see screen shots below, btw SUPER easy to screen shot, took me 2 seconds and I duck with computors).

 

Edited December 5, 2018 by GeoPolitics

[Usrowboy + 1]

• USROWBOY
• NJ USA
• Retired from food biz after 34 years of frustration
• Company: OTA grad, US Navy vet
• Experience 1.5yr futures only
• Expertise  NOT SO MUCH,  Newbee to oil futures.  Q for the group:   I don't expect anyone to give me picks.  I'm just confounded by the variety of information out there.  Where should I look to assess the market and make my decisions?  I've tried Yahoo/Finanace, Finviz, MSNBC (except for Cramer) and just technical aspects taught by OTA.  Any help appreciated.

Edited December 6, 2018 by Usrowboy

[GeoPolitics + 14]

@Top Oil Trader posting positions over at 

 

If you want to keep watching his trades!

[Top Oil Trader + 469]

current trade in asian session up 470

[Top Oil Trader + 469]

same trade, it moves fast